Kabir Adamu, a security consultant, has revealed that in nearly all kidnapping cases where he was part of the investigation, ransom payments were made to criminals via Nigerian banks.
He noted that electronic transfers, rather than actual currency, account for a substantial majority of the transactions. He added that the criminals’ brazenness is obvious because they disclose account numbers for these activities in public…….CONTINUE READING>>>>>>
The security consultant speaking in an interview on TVC’s Breakfast Show stated that he is willing to collaborate with security authorities if they are interested in investigating the problem, but he would not identify the banks involved.
Mr. Adamu also underlined the importance of financial authorities enforcing strict Know Your Customer (KYC) practices in banks.
He argued that thorough KYC implementation might speed up the identification and capture of account holders involved in these types of activities.
Mr. Adamu said, “I will shock you today that in almost all the cases we investigated, the ransoms paid to bandits were through our banks.
“I say this with a sense of responsibility; in almost all cases, it is very few that cash is collected and taken to these guys.
“They are so brave and bold that they provide account numbers, and two banks are guilty, and because this is a public forum, I am not going to mention the names of the banks.”…….CONTINUE READING>>>>>>
